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Donegal Group Inc. (NASDAQ:DGICA), a $544 million market cap insurance coverage firm with a powerful monitor document of 24 consecutive years of dividend funds, not too long ago reported a big inventory acquisition by its main shareholder, Donegal Mutual Insurance coverage Co. In response to a submitting with the Securities and Change Fee, Donegal Mutual Insurance coverage Co. acquired 7,817 shares of Donegal Group’s Class A Widespread Inventory at a median worth of $16.2876 per share, totaling roughly $127,320. Following this transaction, Donegal Mutual Insurance coverage Co. now holds 13,152,372 shares of Class A Widespread Inventory and 4,708,570 shares of Class B Widespread Inventory, sustaining its place as a ten % proprietor of the corporate. The inventory has proven sturdy momentum with a 31% acquire over the previous six months, and InvestingPro evaluation signifies the corporate maintains a GOOD total monetary well being rating. For detailed insights and extra evaluation, buyers can entry the excellent Professional Analysis Report, accessible solely on InvestingPro.
In different latest information, Donegal Group reported a web revenue of $16.8 million, or $0.51 per Class A share, in its Third Quarter 2024 Earnings Name. This comes regardless of the corporate dealing with $6 million in pre-tax disaster losses attributable to Hurricane Helene. The corporate’s web premiums earned rose by 6% to $238 million, with a marked enchancment within the mixed ratio to 96.4%. Alternatively, Donegal Group introduced director Scott A. Berlucchi’s choice to retire and never search re-election on the 2025 annual stockholders assembly. The corporate has not but introduced a successor or supplied particulars relating to potential modifications to the board’s composition following Berlucchi’s departure. Donegal Group additionally accomplished strategic exits from industrial insurance policies in Georgia and Alabama, with plans for software program enhancements to enhance coverage administration set for January 2025. Analysts famous that Donegal Group is aligning methods for progress throughout areas with a cohesive marketing strategy for 2025, specializing in disciplined expense discount. These are among the many latest developments for Donegal Group.
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